J. Safra Sarasin Holding AG Trims Stake in Public Storage $PSA

J. Safra Sarasin Holding AG reduced its stake in Public Storage (NYSE:PSA) by 50.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,959 shares of the real estate investment trust’s stock after selling 3,021 shares during the period. J. Safra Sarasin Holding AG’s holdings in Public Storage were worth $855,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Empowered Funds LLC raised its position in shares of Public Storage by 13.3% in the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after acquiring an additional 373 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Public Storage during the second quarter valued at approximately $929,000. Janney Montgomery Scott LLC grew its stake in Public Storage by 130.2% in the second quarter. Janney Montgomery Scott LLC now owns 68,858 shares of the real estate investment trust’s stock worth $20,204,000 after purchasing an additional 38,946 shares during the period. HB Wealth Management LLC raised its holdings in Public Storage by 16.0% in the second quarter. HB Wealth Management LLC now owns 3,667 shares of the real estate investment trust’s stock worth $1,076,000 after purchasing an additional 506 shares in the last quarter. Finally, Trivium Point Advisory LLC lifted its position in Public Storage by 33.2% during the second quarter. Trivium Point Advisory LLC now owns 2,754 shares of the real estate investment trust’s stock valued at $808,000 after buying an additional 686 shares during the period. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their target price on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. BNP Paribas Exane dropped their price objective on shares of Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Wells Fargo & Company raised their target price on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. BMO Capital Markets lowered their target price on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a report on Monday, December 22nd. Finally, Evercore ISI cut their price target on Public Storage from $309.00 to $305.00 in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.19.

Public Storage Trading Down 1.4%

Shares of NYSE PSA opened at $273.84 on Thursday. The firm’s 50 day moving average price is $272.04 and its 200-day moving average price is $282.08. Public Storage has a 52-week low of $256.54 and a 52-week high of $322.49. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market cap of $48.05 billion, a PE ratio of 28.44, a P/E/G ratio of 7.20 and a beta of 1.01.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm earned $4.20 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.